Midwest Professional Planners LTD. boosted its holdings in Raytheon Technologies Co. (NYSE:RTX – Get Rating) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,416 shares of the company’s stock after purchasing an additional 469 shares during the period. Midwest Professional Planners LTD.’s holdings in Raytheon Technologies were worth $1,671,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Shore Point Advisors LLC bought a new stake in shares of Raytheon Technologies in the fourth quarter valued at $25,000. Fortis Advisors LLC bought a new stake in shares of Raytheon Technologies in the third quarter valued at $32,000. Arcadia Investment Management Corp MI bought a new stake in shares of Raytheon Technologies during the 4th quarter valued at $37,000. Bellwether Advisors LLC raised its stake in shares of Raytheon Technologies by 72.0% during the 3rd quarter. Bellwether Advisors LLC now owns 466 shares of the company’s stock valued at $40,000 after purchasing an additional 195 shares during the period. Finally, Bell Investment Advisors Inc bought a new stake in shares of Raytheon Technologies during the 3rd quarter valued at $43,000. 79.56% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently issued reports on RTX shares. Robert W. Baird boosted their price objective on Raytheon Technologies from $100.00 to $106.00 in a research note on Wednesday, January 26th. Wolfe Research boosted their price objective on Raytheon Technologies from $110.00 to $111.00 and gave the company an “outperform” rating in a research note on Wednesday, February 16th. Morgan Stanley boosted their price objective on Raytheon Technologies from $118.00 to $124.00 and gave the company an “overweight” rating in a research note on Wednesday, March 2nd. Royal Bank of Canada started coverage on Raytheon Technologies in a research note on Friday, April 8th. They set an “outperform” rating and a $125.00 price objective on the stock. Finally, Wells Fargo & Company reduced their target price on Raytheon Technologies from $97.00 to $96.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 26th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $110.08.
Raytheon Technologies (NYSE:RTX – Get Rating) last posted its quarterly earnings data on Tuesday, April 26th. The company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.14. Raytheon Technologies had a return on equity of 9.24% and a net margin of 6.47%. The firm had revenue of $15.72 billion during the quarter, compared to analysts’ expectations of $15.83 billion. During the same period in the prior year, the business earned $0.90 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. Research analysts forecast that Raytheon Technologies Co. will post 4.77 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 16th. Investors of record on Friday, May 20th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, May 19th. This is a boost from Raytheon Technologies’s previous quarterly dividend of $0.51. This represents a $2.20 annualized dividend and a yield of 2.39%. Raytheon Technologies’s dividend payout ratio is currently 73.12%.
In related news, insider Wesley D. Kremer sold 15,083 shares of the stock in a transaction dated Thursday, February 17th. The stock was sold at an average price of $93.92, for a total transaction of $1,416,595.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tracy A. Atkinson sold 5,340 shares of the stock in a transaction dated Friday, February 18th. The shares were sold at an average price of $93.63, for a total value of $499,984.20. The disclosure for this sale can be found here. Insiders have sold a total of 34,749 shares of company stock valued at $3,344,416 over the last 90 days. 0.11% of the stock is currently owned by company insiders.
About Raytheon Technologies (Get Rating)
Raytheon Technologies Corporation, an aerospace and defense company, provides systems and services for the commercial, military, and government customers worldwide. It operates through four segments: Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense.
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